ICICI Direct has given Buy recommendation for Axis Bank recommended buy rating on the stock with a target price of Rs 970 in its research rep with a target price of Rs. 970 in its research report issued on Jan 25, 2022

ICICI Direct’s research report on Axis Bank

Axis Bank is the third largest private sector bank in India with a balance sheet size of Rs 11.1 lakh crore as on December 2021. The bank has a large footprint across India with 4700 branches • Retail and SME comprise ~65% of total loans.

Outlook

We retain our BUY rating on the stock. We value Axis Bank at ~2.1x FY24E ABV and maintain our target price at Rs 970.

More Info on Trent

At 17:30 Axis Bank was quoting at Rs 764.75, down Rs 8.35, or 1.08 percent.

It has touched an intraday high of Rs 784.80 and an intraday low of Rs 761.80.

It was trading with volumes of 398,008 shares, compared to its thirty day average of 331,902 shares, an increase of 19.92 percent.

In the previous trading session, the share closed up 2.81 percent or Rs 21.15 at Rs 773.10.

The share touched its 52-week high Rs 866.60 and 52-week low Rs 617.00 on 25 October, 2021 and 28 January, 2021, respectively.

Currently, it is trading 11.75 percent below its 52-week high and 23.95 percent above its 52-week low.

Market capitalisation stands at Rs 234,611.92 crore.

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